MEG Energy Corp (TSE:MEG) Receives C$7.83 Average PT from Brokerages

Shares of MEG Energy Corp (TSE:MEG) have been assigned an average rating of “Hold” from the eleven research firms that are presently covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is C$7.83.

Several analysts have issued reports on the company. National Bank Financial restated a “sector perform” rating and issued a C$4.75 price objective on shares of MEG Energy Corp in a research note on Tuesday, June 27th. GMP Securities lowered MEG Energy Corp from a “buy” rating to a “hold” rating and dropped their price objective for the company from C$8.50 to C$4.00 in a research note on Wednesday, June 28th. Finally, TD Securities restated a “hold” rating and issued a C$8.50 price objective on shares of MEG Energy Corp in a research note on Friday, March 24th.

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In other news, insider Eric Lloyd Toews bought 10,000 shares of the stock in a transaction dated Wednesday, June 7th. The shares were bought at an average price of C$4.60 per share, for a total transaction of C$46,000.00.

Shares of MEG Energy Corp (TSE MEG) traded up 2.39% on Friday, hitting $3.86. The company had a trading volume of 1,100,176 shares. The firm’s market capitalization is $1.13 billion. The firm has a 50 day moving average of $4.91 and a 200-day moving average of $6.61. MEG Energy Corp has a 12-month low of $3.28 and a 12-month high of $9.83.

MEG Energy Corp Company Profile

MEG Energy Corp (MEG) is a Canada-based oil sands company. It is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is engaged in developing enhanced oil recovery projects that utilize steam-assisted gravity drainage (SAGD) extraction methods.

Analyst Recommendations for MEG Energy Corp (TSE:MEG)

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